Portfolio valuation
In line with the market, Corio had to decrease the value of its
portfolio in 2008. The € 339.3 million (5.5%) write-down on the continuing portfolio
(excluding associates), based on a sound appraisal by external valuers, was
mitigated by good letting results. The yields at which the various parts of the
portfolio are valued accurately reflect the quality. The value of the total
property portfolio (including associates) fell to € 6,039 million (2007: €
6,460 million). The indirect result on the continuing operations (including
associates) was a loss of € 427.6 million (2007: € 563.2 million profit) and
the indirect result on the discontinued operations was a loss of € 16.1 million
(2007: € 35.2 million profit).
Source: Annual Report 2008, Chapter Overview & Strategy, page 19 (PDF, 476 kB)
Add to My report